Retail

Retailers Look To Bid On Toys R Us Stores

Toys R Us

With several Toys R Us stores on the auction block, several national retailers have shown an interest in the embattled toy retailer’s brick-and-mortar locations. Just under 60 “qualified bids” are under consideration, CNBC reported.

In Florida, for example, Target and Aldi are considering a store located near college campuses. And Big Lots is reportedly interested in five stores, while Raymour and Flanigan is looking to bid on three locations. Other retailers interested in the locations include Ashley Furniture and Food Bazaar. Beyond retailers, real estate investment trusts (REITs) are interested in the stores: Federal Realty and Urstadt Biddle reportedly plan to bid on the same store in California.

Only a small number of the 800 U.S. Toys R Us stores are headed to auction. But, of the stores that are being auctioned off, Toys R Us debtors have until April 12 to give their approval on any sales.

The news comes as Bloomberg reported that Amazon could take over some of the Toys R Us stores, which may be soon vacant as the retailer winds down its operations. And though Amazon doesn’t want to keep the Toys R Us brand, it could use the space to display its own products.

The stores could, for example, give Alexa — and the devices it powers — a brick-and-mortar home. The voice-activated technology’s benefits are easier for consumers to see and experience in person, after all. Beyond Alexa and the Amazon Echo, the Toys R Us space could be of use to the eCommerce retailer to store groceries for delivery as well.

Still, about three years ago, Amazon considered taking over a few RadioShack locations when the retailer went bankrupt. As with Toys R Us, RadioShack locations would have been places in which to showcase the company’s hardware. In the end, Amazon’s plans to take over RadioShack locations never materialized.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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